ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) traded down 8% during mid-day trading on Friday after Mizuho lowered their price target on the stock from $19.00 to $17.00. The stock traded as low as $17.07 and last traded at $17.14. 7,967 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,587,389 shares. The stock had previously closed at $18.63.
ACAD has been the subject of several other research reports. Royal Bank of Canada decreased their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th. Citigroup raised their target price on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 in a research report on Tuesday, August 9th. Cowen reduced their target price on shares of ACADIA Pharmaceuticals from $32.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, September 21st. Finally, Morgan Stanley reduced their target price on shares of ACADIA Pharmaceuticals from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $22.61.
Hedge Funds Weigh In On ACADIA Pharmaceuticals
Institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its holdings in ACADIA Pharmaceuticals by 328.6% in the second quarter. Exchange Traded Concepts LLC now owns 2,709 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,077 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in ACADIA Pharmaceuticals by 664.7% in the first quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 5,218 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in ACADIA Pharmaceuticals in the first quarter worth $152,000. WMS Partners LLC purchased a new position in ACADIA Pharmaceuticals in the first quarter worth $206,000. Finally, Kestra Advisory Services LLC purchased a new position in ACADIA Pharmaceuticals in the first quarter worth $208,000. 92.48% of the stock is owned by hedge funds and other institutional investors.
ACADIA Pharmaceuticals Price Performance
The company’s fifty day simple moving average is $16.75 and its 200-day simple moving average is $17.97. The firm has a market capitalization of $2.76 billion, a PE ratio of -13.50 and a beta of 0.63.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.04. ACADIA Pharmaceuticals had a negative net margin of 39.93% and a negative return on equity of 41.18%. The business had revenue of $134.56 million during the quarter, compared to the consensus estimate of $130.06 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post -1.29 earnings per share for the current fiscal year.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.